Recovery: News puts markets on edge

New York is pondering the future of the World Trade Center site as it clears the rubble.

SUMMARY:

Wall Street endured an uneasy down day, reflecting mixed commentary from Federal Reserve Chairman Alan Greenspan and continued anthrax scares. The anthrax woes in particular -- which have affected Senate Majority Leader Tom Daschle's office in Washington, a handful of offices in New York, and a building in south Florida -- put the markets, not to mention many Americans, on edge.

New York City will be receiving at least half of the $40 billion in relief funds approved by Congress last month. White House Budget Director Mitch Daniels, touring the World Trade Center site Tuesday, guaranteed the city at least $20 billion in federal recovery funds, but called for fiscal restraint as decisions are made on the appropriation of aid.

President Bush's budget chief guaranteed at least $20 billion in federal recovery funds for New York City, but called for fiscal restraint as decisions are made on the appropriation of aid.

Holding a hard hat after a tour of the World Trade Center site Tuesday, White House Budget Director Mitch Daniels said the president is committed to giving New York at least half of $40 billion in relief funds approved by Congress last month. (Full story)

A union representing many of the nation's air traffic controllers Tuesday called for tighter security at air traffic control facilities nationwide, saying unescorted visitors can access some towers and vehicles can drive up to the base of the facilities.

The National Air Traffic Controllers Association (NATCA) said while security is adequate at control towers and centers at major airports, 180 smaller towers need improvement. (Full story)

The top emergency response manager in the nation told congressional leaders Tuesday that authorities could become much more effective in the wake of the September 11 attacks.

Joe Allbaugh, director of the Federal Emergency Management Agency, recommended that all emergency authorities, such as police and fire departments and first responders, have an established communications system through which they can easily talk to each other.
(Full story)

The most controversial provision, opposed by President Bush, would make the 28,000 airport screeners and baggage handlers federal employees. (Full story)

Washington Wizards star Michael Jordan announced that he will donate $100,000 of his $1 million salary this season to help the children who lost their parents at the Sept. 11 terrorist attack on the Pentagon. (Full story)

In the aftermath of the September 11 attacks, items carrying the FDNY, as well as NYPD, logos of the New York Fire and Police Departments are being snapped up at street stands and retail locations. (Full story)

New York is hosting a job fair at Madison Square Garden Wednesday to assist those displaced by the September 11 attacks on the World Trade Center. More than 200 companies, offering 13,000 positions, are expected to take part. (Full story)

What measures will be taken to try to prevent a recurrence of such attacks? Click here for more

WHO'S WHO:

George W. Bush: U.S. president

Laura Bush: First lady of the United States, she has become more visible since the terrorist attacks, making public appearances urging parents and teachers to help reassure children that everything is being done to try to keep them safe. Click here for more

Tom Ridge: Director of the U.S. Office of Homeland Security, a new Cabinet-level position Click here for more

Richard Clarke: Head of efforts to safeguard information systems for the Office of Homeland Security Click here for more

Wayne Downing: Retired Army general tapped as deputy national security adviser Click here for more

The latest figures provided by federal and local officials give the following totals for the number of people dead or missing from the September 11 attacks.

WORLD TRADE CENTER: 4,688 reported missing to the New York Police Department, including the 157 people on the two hijacked planes; 450 confirmed dead, 395 bodies identified

PENTAGON:
64 dead on hijacked plane; another 125 dead or missing

PENNSYLVANIA: 44 confirmed dead on hijacked plane

IMPACT:

The events of September 11 exposed the vulnerability of the world's greatest superpower, presenting the United States with the challenge of recovering emotionally and physically.

Several industries -- particularly the airline industry and the insurance industry -- have been hit hard by the aftermath of the terrorist attacks, and their progress will be watched closely as a guide to the overall U.S. economic and psychological recovery.